Slideshow | Market slips 4% amid rate hikes by central banks; rupee falls 48 paise
The Indian rupee ended weak against the US dollar during the week. The rupee fell 48 paise to 76.91 a dollar on May 6 against its April 29 closing of 76.43
Indian market lost 4 percent in the week ended May 6 after a surprise rate hike by the Reserve Bank of India (RBI) and weakness in the global markets following the US Federal Reserve and BoE's decision to raise interest rates to curb the soaring inflation that hit economic growth.
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For the week, the BSE Sensex shed 2,225.29 points (3.89 percent) to close at 54,835.58, while the Nifty fell 691.25 points (4.04 percent) to end at 16,411.3.
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The BSE largecap index fell 4 percent, with Zomato, Vedanta, DLF, Titan Company, Eicher Motors and Bajaj Finance losing 10-15 percent.
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The BSE midcap index shed 3 percent, dragged by Info Edge India, Voltas, Apollo Hospitals Enterprises, Cholamandalam Investment and Finance Company, CRISIL, Aditya Birla Capital, Godrej Properties and IDBI Bank.
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The BSE smallcap index declined 2.6 percent, with Angel One, SOLARA ACTIVE PHARMA SCIENCES, 63 Moons Technologies, Brightcom Group, Future Retail, TV18 Broadcast, DB Realty, Morepen Laboratories, Future Enterprises shed 15-20 percent. On the other hand, Future Consumer, Gokaldas Exports, Paisalo Digital, Future Supply Chain Solutions and Home First Finance Company India added 10-20 percent. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
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Among the Sensex companies, Reliance Industries lost the most in terms of market value, followed by Bajaj Finance, HDFC Bank and Titan Company during the week. ITC, Power Grid Corporation of India and NTPC added most to their market value. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
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The Indian rupee ended weak against the US dollar during the week. The rupee fell 48 paise lower at 76.91 a dollar on May 6 against its April 29 closing of 76.43.
Among the sectors, the Nifty information technology index declined 15 percent, the Nifty media index fell 12 percent and the Nifty realty index shed 10 percent. However, the Nifty energy index added 9.4 percent.
